The Nigerian Economic Summit Group has indicated that the nation could achieve a 5.5 percent increase in Gross Domestic Product, driven by ongoing reforms....Read Full Article >>➤
Naija News reports that this information was disclosed on Thursday during the unveiling of the 2025 Macroeconomic Outlook by the NESG.
Speaking at the event, the Chief Economist and Director of Research & Development NESG, Dr. Olusegun Omisakin, expressed optimism that more [positive results will emerge if Nigeria embarks on more efficient policy reforms.
“We believe at the optimal level, if we embark on more efficient policy reforms, the Nigerian economy has the potential, the GDP to end up at 5.5 per cent and we believe that this is achievable,” Omisakin said.
Meanwhile, the Deputy Senate President, Barau Jibrin, has called for efforts to ensure that economic growth, as shown in the Gross Domestic Product (GDP) report, reflects the realities of Nigerians.
The Kano North Senator, Jibrin, said the government must do everything possible to ensure that sound economic projections are made and implemented.
Jibrin stated this during plenary in December 2024 while contributing to the report by the joint committees on Finance, National Planning, and Economic Affairs regarding the 2024-2026 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP),
The All Progressives Congress (APC) lawmaker emphasized the importance of collective efforts to achieve revenue projections.
“We must do everything possible to ensure these sound and encouraging projections are pursued and implemented.
“The GDP growth rate is projected to reach 44.4% by 2055 and 5.5% by 2026, driven by investments in infrastructure, agriculture, and telecommunications.
“This is a welcome development. But as I said earlier, we should do everything possible to make sure that these projections are not just something that is just written,” Jibrin said. ...Read Full Article >>➤
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